Just last week, we reported that the all-new 2024 Chevrolet Traverse will see a large price jump. In what is looking to be an industry trend, Hyundai just reported significant price increases for its large mid-size 2024 Hyundai Santa Fe.
The new 2024 Santa Fe base price starts at $33,950 plus a destination charge of $1,395, bringing the out-the-door MSRP to $35,345. That is $5,260 more expensive than a 2023 Santa Fe SE at $28,750 plus $1,335 destination. The middle-of-the-road "rugged" trim XRT sees the largest jump in price, climbing $6,350 from $34,250 to $40,600 before destination charges. Buyers of the base hybrid trim see the least of the increase, only $2,540 from the 2023 Hyundai Santa Fe Blue trim to the 2024 Hyundai Santa Fe Hybrid SEL AWD trim. New for 2024 is the availability of the hybrid in front-wheel drive which brings the hybrid cost back down to around the 2023 AWD Hybrid base price.
That said, these price increases aren't without merit. The 2024 Hyundai Santa Fe has increased significantly in size, adding a third row. The base, naturally aspirated 4-cylinder has been dropped and all non-hybrid models now have the 277-horsepower 2.5-liter direct-injected 4-cylinder turbo as standard. Hybrids are powered by a 1.6-liter turbo with 231-horsepower combined system output. Gasoline models come with an 8-speed automatic while hybrids get a 6-speed unit. All trims, except the all-wheel drive only XRT, are available in front-wheel or all-wheel drive. The plug-in is absent for now, but mules have been spotted, so it could be coming.